DAILY: China's coking coal market at a standstill, MCCI stable

China's coking coal market held steady on July 27, with miners turning reluctant to cut prices further amid tight supply. However, headwinds remain, as steel mills initiated a fresh round of metallurgical coke price cuts yesterday a move that adds to downward pressure on the coking coal segment.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 1,685.3/tonne ($249.1/t) including the 13% VAT, up Yuan 0.2/t from the previous session. Chinese coking coal miners showed less willingness to lower offer prices yesterday, with persistent domestic supply tightness cited as